Barry Callebaut 5-year results overview

Barry Callebaut's financial results 5-year overview from fiscal year 2014/15 to fiscal year 2018/19

Key figures Barry Callebaut Group¹

Consolidated Income Statement

	CAGR (%)	2018/19	2017/18	2016/17 restated	2015/16	2014/15
Sales volume (Tonnes)	4.5%	2,139,758	2,035,857	1,914,311	1,834,224	1,794,782
Sales revenue (CHF m)	4.0%	7,309.0	6,948.4	6,805.2	6,676.8	6,241.9
EBITDA (recurring) (CHF m)	9.4%	775.0	728.3	592.1	539.4	540.8
Operating profit (EBIT) (CHF m)	9.7%	601.2	554.0	460.2	401.7	414.8
Operating profit (EBIT, recurring) (CHF m)	9.7%	601.2	554.0	442.1	401.7	414.8
EBIT (recurring) / sales revenue (%)		8.2%	8.0%	6.5%	6.0%	6.6%
EBIT (recurring) per tonne (CHF)	5.0%	281.0	272.1	230.9	219.0	231.1
Net profit for the year (CHF m)	11.3%	368.7	357.4	281.1	219.0	239.9
Net profit for the year (recurring)² (CHF m)	13.3%	394.7	357.4	263.0	219.0	239.9
Free cash flow (CHF m)		289.7	311.9	475.6	430.9	1.2

Consolidated Balance Sheet

	CAGR (%)	2018/19	2017/18	2016/17 restated	2015/16	2014/15
Total assets (CHF m)	4.6%	6,508.1	5,832.0	5,466.5	5,640.8	5,429.4
Net working capital (CHF m)	(2.8%)	1,363.2	1,074.4	1,042.5	1,374.2	1,529.7
Non-current assets (CHF m)	4.9%	2,650.0	2,505.5	2,477.7	2,301.0	2,185.5
Net debt (CHF m)	(6.8%)	1,304.7	1,074.3	1,110.9	1,452.8	1,728.0
Shareholders’ equity (CHF m)	7.9%	2,399.3	2,269.8	2,111.2	1,956.3	1,772.8
Capital expenditure (CHF m)	2.9%	279.6	217.9	220.4	201.0	249.2

Ratios

	2018/19	2017/18	2016/17 restated	2015/16	2014/15
Economic Value Added (EVA) (CHF m)	206.5	173.3	100.7	52.5	65.6
Return on invested capital (ROIC)³ (%)	13.2%	12.2%	11.0%	9.5%	9.8%
Return on equity (ROE) (%)	15.4%/16.5%⁴	15.7%	12.5%	11.2%	13.5%
Debt to equity ratio (%)	54.4%	47.3%	52.6%	74.3%	97.5%
Solvency ratio (%)	36.9%	38.9%	38.6%	34.7%	32.7%
Interest coverage ratio	5.2/6.7⁵	7.2	4.9	4.0	4.1
Net debt / EBITDA	1.5	1.5	1.9	2.7	3.2
Capital expenditure / sales revenue (%)	3.8%	3.1%	3.2%	3.0%	4.0%

	CAGR (%)	2018/19	2017/18	2016/17 restated	2015/16	2014/15
Share price at fiscal year-end (CHF)	17.5%	2,024	1,728	1,380	1,264	1,061
EBIT (recurring) per share (CHF)	9.8%	109.7	101.0	80.6	73.2	75.6
Basic earnings per share (CHF)	11.8%	67.6	64.9	47.8	39.5	43.2
Cash earnings per share (CHF)		52.9	56.9	86.7	78.6	0.2
Payout per share (CHF)	15.7%	26.0	24.0	20.0	15.5	14.5
Payout ratio (%)		39%	37%	39%	39%	33%
Price-earnings ratio at year-end		30.0	26.6	28.9	32.0	24.6
Market capitalization at year-end (CHF m)	17.5%	11,109.4	9,484.7	7,574.6	6,937.9	5,823.7
Number of shares issued		5,488,858	5,488,858	5,488,858	5,488,858	5,488,858
Total payout to shareholders (CHF m)	11.5%	131.5	109.8	85.1	79.6	85.1

Other

	CAGR (%)	2018/19	2017/18	2016/17 restated	2015/16	2014/15
Total assets	6.8%	12,257	11,570	10,528	9,898	9,430
Net working capital (Tonnes)	2.0%	1,002,025	956,440	925,544	898,135	925,856
Non-current assets (Tonnes)	5.9%	1,620,112	1,539,476	1,437,082	1,383,186	1,287,461

¹ _{Financial performance measures, not defined by IFRS, are defined on page 181.}
² _{Net profit excluding one-off costs for early bond repayment of CHF 33 million, partly offset by the tax effect of CHF 7 million.}
³ _{From 2017/18 onwards calculated based on Pro-forma (IFRS 15). Refer to Consolidated Financial Statements, Introduction of new standards in 2018/19, IFRS 15 – Revenue from Contracts with Customers – Consolidated Balance Sheet impact.}
⁴ _{On the basis of net profit / net profit (recurring) for the fiscal year 2018/19.}
⁵ _{Adjusted interest coverage ratio of 6.7 for the year 2018/19 excludes one-off effect of early bond repayment of CHF 33 million.}